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Ratio Analysis
The following are Brenham Corporation's 2010 and 2011 balance sheets and income statements.
2010
2011
Cash
$120,000
$140,000
Accounts Receivable
190,000
215,000
Inventory
240,000
260,000
Buildings and Equipment
275,000
250,000
Intangible Assets
75,000
67,500
Total Assets
$900,000
$932,500
Accounts Payable
$400,000
$420,000
Bonds Payable (Long-Term)
200,000
125,000
Common Stock
30,000
Additional Paid-In Capital
175,000
Retained Earnings
95,000
182,500
Total Liabilities and Stockholders' Equity
Sales
$1,000,000
$1,200,000
Cost of Goods Sold
(600,000)
(784,000)
Gross Profit
$416,000
Advertising Expense
(25,000)
(65,000)
Depreciation Expense
(40,000)
(51,040)
Office Supplies Expense
(20,000)
(22,500)
Interest Expense
(30,000)
Provision for Income Tax Expense
(189,000)
(159,960)
Net Income
$86,000
$87,500
(a) Calculate Brenham's current ratio at Dec 31, 2010 and Dec 31, 2011.
(b) Calculate Brenham's working capital at Dec 31, 2010 and Dec 31, 2011.
(c) Calculate Brenham's debt to equity ratio at Dec 31, 2010 and Dec 31, 2011.
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